NetEase, Inc. $NTES Holdings Decreased by Clark Capital Management Group Inc.

Key Points

• Clark Capital cut its stake in NetEase by 45.4% in Q3, selling 206,895 shares and ending the quarter with 248,337 shares valued at $37.745 million.
• Other institutions increased exposure, most notably UBS Asset Management, which bought 8,538,717 shares to hold 8,551,117 shares (~$1.30 billion), while Bank of Montreal and several managers also materially boosted positions; institutional ownership stands at 11.07%.
• NetEase raised its quarterly dividend to $1.16 (from $0.57), a $4.64 annualized payout with a ~3.9% yield (ex-dividend March 16, payable March 27), and analysts maintain a consensus of "Moderate Buy" with an average target of $153.89.

Clark Capital Management Group Inc. lowered its stake in NetEase, Inc. (NASDAQ:NTES - Free Report) by 45.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 248,337 shares of the technology company's stock after selling 206,895 shares during the quarter. Clark Capital Management Group Inc.'s holdings in NetEase were worth $37,745,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of NetEase by 68,860.6% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,551,117 shares of the technology company's stock worth $1,299,684,000 after buying an additional 8,538,717 shares in the last quarter. Bank of Montreal Can boosted its holdings in shares of NetEase by 1,636.4% in the third quarter. Bank of Montreal Can now owns 662,557 shares of the technology company's stock valued at $100,702,000 after acquiring an additional 624,399 shares in the last quarter. Man Group plc boosted its holdings in shares of NetEase by 33.3% in the second quarter. Man Group plc now owns 983,156 shares of the technology company's stock valued at $132,313,000 after acquiring an additional 245,872 shares in the last quarter. Causeway Capital Management LLC increased its stake in shares of NetEase by 44.6% during the third quarter. Causeway Capital Management LLC now owns 638,315 shares of the technology company's stock valued at $97,017,000 after acquiring an additional 196,821 shares during the period. Finally, Tiger Pacific Capital LP acquired a new position in shares of NetEase during the third quarter valued at approximately $28,993,000. Institutional investors own 11.07% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on NTES shares. Benchmark restated a "buy" rating on shares of NetEase in a research report on Thursday, February 12th. Citigroup reiterated a "buy" rating on shares of NetEase in a research report on Wednesday, February 11th. Morgan Stanley reissued an "overweight" rating and issued a $154.00 price objective on shares of NetEase in a research note on Monday, March 2nd. Weiss Ratings restated a "hold (c)" rating on shares of NetEase in a report on Monday, December 22nd. Finally, Wall Street Zen cut NetEase from a "buy" rating to a "hold" rating in a research note on Sunday, November 23rd. Eight research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $153.89.

NetEase Stock Up 1.1%

NTES opened at $117.51 on Monday. The firm has a market cap of $74.45 billion, a PE ratio of 16.01, a P/E/G ratio of 1.50 and a beta of 0.74. The business has a fifty day simple moving average of $126.28 and a 200-day simple moving average of $137.16. NetEase, Inc. has a fifty-two week low of $88.54 and a fifty-two week high of $159.55.

NetEase Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Monday, March 16th will be issued a dividend of $1.16 per share. This represents a $4.64 annualized dividend and a yield of 3.9%. The ex-dividend date is Monday, March 16th. This is a boost from NetEase's previous quarterly dividend of $0.57. NetEase's dividend payout ratio is presently 30.93%.

About NetEase

NetEase, Inc NASDAQ: NTES is a Chinese technology company headquartered in Hangzhou that develops and operates Internet services and products. Founded in 1997 by William Ding (Ding Lei), the company has grown from an early web portal and e-mail provider into a diversified online services group. William Ding has served as the company's founder and long-time leader, guiding its expansion into games, digital content and consumer services.

The company's primary business is interactive entertainment: NetEase Games designs, develops and publishes PC and mobile games for domestic and international audiences, offering a mix of self-developed franchises and titles published under licensing and strategic partnerships.

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